Portfolio concentration
As of February 28, 2026 · N-PORT
Holdings
16
Top-10 weight
90.94%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
9
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
105.7
Holdings
As of February 28, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | U.S. Treasury Bills | B | 500,000 | $499.60K | 17.87% |
| 2 | U.S. Treasury Notes | TII | 417,372 | $426.15K | 15.24% |
| 3 | US TREASURY N/B | — | 350,000 | $351.38K | 12.57% |
| 4 | U.S. Bank Money Market Deposit Account | USBFS04 | 324,990 | $324.99K | 11.62% |
| 5 | PennyMac Mortgage Investment Trust PREFERRED STOCK | PMTV | 10,074 | $255.68K | 9.14% |
| 6 | NextEra Energy Capital Holdings, Inc., Series U, Pfd. | NEE U | 8,600 | $218.10K | 7.80% |
| 7 | XEL 6 1/4 | XELLL | 6,800 | $169.66K | 6.07% |
| 8 | PENNYMAC MTG INVT TR 8.125/VAR PREF PERP | PMT A | 4,612 | $108.94K | 3.90% |
| 9 | Chimera Investment Corp | CIMO | 4,000 | $101.68K | 3.64% |
| 10 | Duke Energy Corp PREFERRED STOCK | DUKB | 3,000 | $73.92K | 2.64% |
| 11 | Chimera Investment Corp | CIMN | 2,600 | $65.39K | 2.34% |
| 12 | DYNEX CAPITAL | — | 4,000 | $56.12K | 2.01% |
| 13 | Government National Mortgage Association, Series 2022-195 | — | 59,476 | $48.96K | 1.75% |
| 14 | Rithm Capital Corp., Series B, Pfd. | RITM B | 1,450 | $36.37K | 1.30% |
| 15 | RITHM CAPITAL CORP | — | 2,500 | $25.12K | 0.90% |
| 16 | Freddie Mac REMICS | FHLMC | 20,292 | $20.17K | 0.72% |
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